Bob’s Discount Furniture (NYSE:BOBS) Stock Jumps 7% – Here’s Why

Bob’s Discount Furniture, Inc. (NYSE:BOBS)’s stock price rose 7% during trading on Thursday. The stock traded as high as $16.07 and last traded at $16.14. 77,080 shares traded hands during trading, a decline of 93% from the average session volume of 1,058,179 shares. The stock had previously closed at $15.08.

Analyst Ratings Changes

BOBS has been the subject of a number of analyst reports. Weiss Ratings upgraded Bob’s Discount Furniture from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 17th. Robert W. Baird set a $19.00 price objective on shares of Bob’s Discount Furniture in a research report on Friday, August 7th. Evercore set a $18.00 price objective on shares of Bob’s Discount Furniture in a research note on Tuesday, October 13th. Finally, Royal Bank Of Canada boosted their target price on shares of Bob’s Discount Furniture from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Bob’s Discount Furniture has an average rating of “Moderate Buy” and an average price target of $23.83.

Bob’s Discount Furniture Trading Up 8.2%

The company has a current ratio of 0.90, a quick ratio of 0.28 and a debt-to-equity ratio of 0.14. The business’s 50-day simple moving average is $15.73 and its two-hundred day simple moving average is $14.52. The company has a market capitalization of $2.13 billion and a PE ratio of 25.50.

Bob’s Discount Furniture (NYSE:BOBS) last announced its earnings results on Thursday, August 6th. The company reported $0.20 earnings per share for the quarter, meeting the consensus estimate of $0.20. The business had revenue of $619.57 million for the quarter. On average, analysts predict that Bob’s Discount Furniture, Inc. will post 0.93 earnings per share for the current year.

Institutional Investors Weigh In On Bob’s Discount Furniture

Hedge funds have recently bought and sold shares of the business. State of Alaska Department of Revenue acquired a new stake in Bob’s Discount Furniture during the 3rd quarter valued at approximately $93,000. Readystate Asset Management LP acquired a new position in shares of Bob’s Discount Furniture in the 2nd quarter valued at approximately $237,000. Penn Capital Management Company LLC purchased a new position in shares of Bob’s Discount Furniture during the 2nd quarter valued at approximately $423,000. Bank of New York Mellon Corp purchased a new position in shares of Bob’s Discount Furniture during the 2nd quarter valued at approximately $700,000. Finally, HBK Investments L P purchased a new position in shares of Bob’s Discount Furniture during the 2nd quarter valued at approximately $3,955,000.

About Bob’s Discount Furniture

Bob’s Discount Furniture is a U.S. furniture retailer that sells a broad selection of furniture and home furnishings at value-oriented prices. Its merchandise includes living room, bedroom, dining room and home office furniture, as well as mattresses, rugs, lighting, décor and other household products.

The company was founded in 1991 by Robert “Bob” Kaufman in Newington, Connecticut. Bob’s operates an omnichannel retail model that combines a network of showrooms with online shopping and related delivery and service capabilities.